What are Non-Dischargeable Debts in a Bankruptcy Filing?
When filing for bankruptcy, it's important to understand the different types of debt you may be dealing with. Among these are non-dischargeable debts, which can't be eliminated in a bankruptcy case. Understanding what non-dischargeable debts are and how they're treated in bankruptcy is key to making an informed decision about your financial future.
Non-dischargeable debt refers to any liability that cannot be eliminated when filing for bankruptcy relief. Generally, this includes obligations such as back taxes, child support payments and student loans. Additionally, most court fines or restitution payments must also be paid despite declaring bankruptcy. In some cases, other types of debt such as credit card debts may also not qualify for discharge depending on their origin or the circumstances of their use.
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